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8x8 Q2 2017 total revenue grew 24%

Staff Writer | October 26, 2016
8x8 reported record financial results for the second quarter of fiscal 2017 ended September 30, 2016. Total revenue grew 24% year-over-year to $63.2 million; service revenue grew 23% year-over-year to $57.7 million.
8x8   GAAP service margin was 81%
Service revenue from mid-market and enterprise customers grew 36% year-over-year organically and represents over 53% of the Company's total service revenue.

New monthly recurring revenue (MRR) sold to mid-market and enterprise customers and by channel sales teams increased 30% year-over-year and accounted for 65% of total MRR booked in the quarter.

GAAP net income was $27k, or $0.00 per diluted share; non-GAAP net income was $5.3 million, or $0.06 per diluted share.

GAAP gross margin was 74%, compared with 73% in the same period last year; non-GAAP gross margin remained unchanged year-over-year at 75%.

GAAP service margin was 81%, compared with 80% in the same period last year; non-GAAP service margin was 83%, compared with 82% in the same period last year.